Cameco (NYSE:CCJ) Stock Price Up 1.8% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares rose 1.8% on Tuesday . The company traded as high as $122.25 and last traded at $120.9160. Approximately 3,427,501 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 4,656,782 shares. The stock had previously closed at $118.75.

Analyst Ratings Changes

CCJ has been the subject of several analyst reports. UBS Group began coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Scotiabank restated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a 50 day moving average of $111.35 and a 200 day moving average of $94.46. The stock has a market capitalization of $51.46 billion, a P/E ratio of 121.80 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several large investors have recently made changes to their positions in CCJ. Financial Consulate Inc. acquired a new position in Cameco in the third quarter valued at approximately $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Cameco during the 4th quarter valued at $25,000. Founders Capital Management acquired a new position in shares of Cameco in the 4th quarter valued at $27,000. Strategic Advocates LLC bought a new position in shares of Cameco in the 3rd quarter worth $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco during the fourth quarter worth $28,000. Institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.